Dotex sending notice for illegal use of data feed

[rythm.arora]

The primary question here is - whether nse or dotex has any copyright over the primary data. For e.g., Yahoo is publishing the data free of cost. If I take that data and feed it into Amibroker, how does that make it illegal? Please note that I am not downloading the data from Yahoo servers or database.

Take another example - copyright is awarded to the "original" author of a work.Is nse or dotex the author of the primary data? If I buy a share of reliance from a seller, it is me who should own that price point. Isn't it? Doesn't it sound stupid? That is what needs to be clarified from this case. Primary data should not be under copyright. A database can be, but Manshi wouldn't have copied and sold the database. It would have only sent the primary data.

Another example - All the users of Amibroker are creating their own database on their local drives using this primary data. Are they all criminals under this law?

 

[fxgood]

The primary question here is - whether nse or dotex has any copyright over the primary data. For e.g., Yahoo is publishing the data free of cost. If I take that data and feed it into Amibroker, how does that make it illegal? Please note that I am not downloading the data from Yahoo servers or database.

Take another example - copyright is awarded to the "original" author of a work.Is nse or dotex the author of the primary data? If I buy a share of reliance from a seller, it is me who should own that price point. Isn't it? Doesn't it sound stupid? That is what needs to be clarified from this case. Primary data should not be under copyright. A database can be, but Manshi wouldn't have copied and sold the database. It would have only sent the primary data.

Another example - All the users of Amibroker are creating their own database on their local drives using this primary data. Are they all criminals under this law?

Yes if they want they can protect their data using SSL certificates and keep it encoded and encrypted so one can't use their genuine source without hack or sniff attempts which if done then cases can't be considered as criminal in nature and can be fought over if they are tampered and illegal distributed.

And my question is why exchanges or providers not doing this at 1st place in this digital age of internet.

 

[revendar]

I have spoke to Dotex regarding terms and service of displaying NSE data.

1. All EOD reports cash and Derivatives are available for 25k per anum per customer for PERSONAL use. ( Though you can download that free of charge from NSE websites)
2. If you have to put that data together in some form of charts in a website, you HAVE TO subscribe to EOD data from DoTEX. Also you can only show that data in a OPEN website(no subscription) in a NON DOWNLOADABLE format.
3. In case you want to put some analytics in a website based on EOD details like TA charts, etc.. and trying to monetize that, you have to pay 25K per user who are subscribed to your website. This is way to higher than a REALTIME Data feed which we can get for 900/month from an authorised NSE data vendor.

Any breach in the above rules can attract legal action.

For websites which use free bhav copies from NSE websites..

Why Dotex recommends to subscribe 25k per anum?

Dotex will provide a FTP server where you can download all reports. So you need not have to scrap NSE website for downloading EOD reports. In NSE Terms of Usage, it is clearly mentioned that automatic data downloads/any attempts in tampering the server with frequent hits attracts legal action/penalties.

How Google/Yahoo providing EOD or 15 mins delayed charts..
Google/yahoo being big corporates.. they would have entered into special agreement with NSE/DoTEX for providing RT(delayed) and EOD(which anyways is just 25K for open website).
AFAIK, yahoo RT quotes API is 15 mins delayed. DoTEX has special tariff for 15 mins snapshot data/redistribution..

PS: I'm aware that there are lot of ODIN software available for EOD/realtime free of charge from NSE/NOW.
I'm in no way related to DoTEX as I myself use NSE free bhav copies for personal analysis.

 

[tkamal]

Friends......
(1) BSE (Bombay Stock Exchange) has same Rules & regulations for Data Distribution..Like NSE...??
(2) If Yes who is the Distribution authority for BSE data Like NSE's DOTEX (RT, IEOD & EOD)..?? & What are their (BSE's) charges..??
(3) If NO, Then why should'nt analysts use BSE data for RT & EOD analysis..??
(4) I think google, yahoo provide delayed BSE intra charts too....
(5) All brokers provide BSE trading platform...
Please think diff side also... U can find alternate...
(There are 2 stock exchanges in India.. )
-tk